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Economic Survey of Latin America and the Caribbean 1996-1997

In 1996 and 1997, the economies of Latin America and the Caribbean appeared to have returned to the pattern of moderate growth. Part I of this publication gives insight into the economic trends, the international economy and the role of exchange rate policy in the region. Part II explores the economic developments by country. Included also is a statistical annex on diskette, which contains tables extending as far back as 1980.

El Salvador

In 1996, the growth of El Salvador's economy slowed. Gross domestic product (GDP)rose by a mere 2.5%, compared with an average of almost 7% over the previous four years. This change in trend was more evident in national income, which declined by around 1%. Domestic demand, especially capital expenditure, also reversed course, dropping markedly in contrast with the rapid increases recorded in recent years.